This disclosure relates generally to mobile computing applications, and more particularly to techniques for employing a credit device processor on a mobile device such as a cellular phone.
Currently, there is no credit device processor on a mobile device such as cellular phone. A credit device processor can process transactions using a credit device such as a credit card. Thus, many consumers are currently having to write a paper check, wire funds, or send payments for something via mail, which includes electronic mail as well as regular mail. Many, if not all, of these payment schemes include transaction fees.
What is needed is a cost-effective and convenient way for payments to be made from one mobile device to another, whether such mobile-to-mobile arrangement is a business-to-business (B2B), a business-to-consumer (B2C), or consumer-to-consumer (C2C).